Media General Springs for a Wider Screen

Deal With LIN Media Suggests Bigger Is Better

March 21, 2014 4:19 p.m. ET

Bigger is better for the owners of broadcast-TV stations, even as regulators are training a more watchful eye on the industry.

Media General said Friday it is buying LIN Media for $27.82 a share, or $2.6 billion, including the assumption of debt. The deal continues a string of recent mergers among local broadcasters, including Gannett's acquisition of Belo, Sinclair Broadcasting Group's purchase of Allbritton Communications and Media...